Because of irregularities detected in the business practices of AIK Banka by the National Bank of Serbia, the former was denied the permit that would allow it to buy the Slovenian Gorenjska Banka.

According to the website of the National Bank of Serbia, it decided to revoke its given consent (to AIK Banka) in 2016 for the takeover of Gorenjska Banka, as every takeover of a subsidiary outside of Serbia brings greater risks and could potentially threaten its financial position. AIK Banka, which already owns one fifth of Gorenjska Banka, is therefore unable to purchase the additional 37,6 percent share of the bank - a deal which was already agreed with Sava", rtvslo.si reads.

For the purchase, the Serbian institution would need permission from the National Bank of Serbia, the European Central Bank (ECB) and the Bank of Slovenia.

The head of the Serbian AIK Banka, Miodrag Kostić has not lost his hope yet as he believes "they can still obtain all the necessary permits in an 'acceptable time frame'."

Even after the latest development, neither the Slovenian regulator nor the European Central Bank have revoked AIK Banka's permit.../IBNA